Benzinga | Nov 15, 2021 12:25PM EST

This Is What Whales Are Betting On Tilray

A whale with a lot of money to spend has taken a noticeably bullish stance on Tilray.

Looking at options history for Tilray (NASDAQ:TLRY) we detected 10 strange trades.

If we consider the specifics of each trade, it is accurate to state that 60.0% of the investors opened trades with bullish expectations and 40.0% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $245,108 and 8, calls, for a total amount of $331,854.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $12.0 to $15.0 for Tilray over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Tilray's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Tilray's whale activity within a strike price range from $12.0 to $15.0 in the last 30 days.

Tilray Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestTLRY PUT SWEEP BEARISH 06/17/ $13.00 $180.6K 1.9K 1.0K 22TLRY PUT SWEEP BULLISH 06/17/ $13.00 $64.5K 1.9K 2.2K 22TLRY CALL TRADE BULLISH 12/23/ $15.00 $57.9K 336 536 21TLRY CALL SWEEP BULLISH 11/19/ $12.50 $46.2K 8.1K 4.4K 21TLRY CALL SWEEP BULLISH 11/26/ $12.00 $45.1K 1.6K 503 21

Where Is Tilray Standing Right Now?

* With a volume of 42,352,984, the price of TLRY is up 3.59% at $13.4.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 11 days.

What The Experts Say On Tilray:

* Cantor Fitzgerald downgraded its action to Neutral with a price target of $11.8

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.